starsearcher40 wrote: As expected, the stock traded down today. The Sessions news, while good in the bigger picture, truly was an upside blip that wasn't fully warranted. What people need to understand here is the difference between concrete news....news that makes a difference NOW, and news that has no holdning power in the short term.
The Seesions news is a good example of this. Good in the long term, but short term not relevant. I honestly think the same for the beverage market. People talk like it's happening tomorrow, when in fact it is years away at best. Will it be stunning? Absolutely. But not today, or tomorrow. And that is where you get the volatility. The market is fueled by imagination, which has little regard for timelines (reality), and also tires quickly when there isn't further fuel for that imagination.
It is here where we get the volatility that Is the Canopy stock. And these swings between imagination and reality absolutely are playable and profitable. So when I say the stock will trade down to $50, it's nothing against the stock or company. It's just playing the reality of imagination and wane.
People who can ride these cycles out...well...good for you. You're far stronger than me. For myself, I'll play in the swings, up and down, and profit on those moves when played well. It's been a very good couple of weeks.
Will we see $50? Yes, imho we will. See you there.
starsearcher40 wrote: We'll see North. The stock continues to search for equilibrium after the severe down, and resounding up. It is not beyond imagination for it to continue with a lesser swing down as that equilibrium is eventually found. Adjust you say? Sure, if I see it or it's necessary. Currently, though, I'm not seeing the need to rush in.
WeedTheNorth wrote: $50 sounds really nice SS40 but the chances of it touching that low (nearly the CB raise price) with now 2 additional European sites and movement towards federal medical cannabis in the US since then is lower than it going to the ATH by end of year I believe. Adjust quickly, or miss out.
starsearcher40 wrote: So I'm down golfing for a couple of days with a buddy down in Florida. News about Sessions hit as I was on the Park&Fly bus. Trying to trade off a cell phone was FRUSTRATING! Managed to get some buys in buy certainly not as many as I could have, being in front of the main screens where I can trade with a single click. I sold at the end of the day, which looks like a good thing today. The Sessions news is generally good for mj stocks but not THAT good....not yet anyway.
The shorts look to be back in control with a vengeance right now. They just sent a signal to the market, dropping the stock hard about 2 bucks. In the bigger picture, it's not a problem. The stock will eventually rise. But retracement and short looks to be the name of the game for now.
I still say the stock will retrace to the $50 level. I'll adapt as needed, but a healthy retracement IS part of any normal rise. We'll see what comes.